Terry Pierce Departs PrimeRevenue to Join Supply Chain Startup Fluent

One of the leading providers of Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term-enabled supply chain finance solutions, Prime Revenue, with more than 20,000 customers in 70 countries and over $100 billion worth of transactions processed on its platform, has lost one of its staff members to an emerging blockchain startup – Fluent Network (Fluent) – as the prospects of distributed ledger technology is already causing job changes.

Former Broncos player for the U.S. National Football League (NFL), Terry Pierce, who subsequently made a career in finance after years of highly competitive professional sports, recently departed PrimeRevenue to join Fluent in June as VP of Customer Development and became the startup’s 12^th employee, according to an official company announcement.

No stranger to stellar performance

Mr. Pierce had spent the last two years at Atlanta-headquartered PrimeRevenue where he signed eight master service agreements with a total of $70 billion of annualized supplier spending, making him one of the leading reps as a strategic account executive.

Having been picked up by the NFL in a second round draft, playing for the Broncos for three years, and then moving on to compete in finance, Mr. Pierce is no stranger to stellar performance. For example, he closed the first five market participations for over $25 million after becoming the 9^th employee for C2FO - a startup that runs a dynamic discounting platform where he was chief relationship manager dealing with supplier clients with over $1 billion in revenues, after leaving a position with UBS earlier in his career.

“I joined Fluent because of their practical approach to implementing Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term technology, using it to solve real issues within trade finance.” Mr. Pierce added: “The writing's on the wall; It’s not just a different way to do the same thing. This is a fundamental change, allowing us to solve problems in trade finance previous vendors simply couldn't.”

Blockchain for supply finance

In related supply chain finance developments, PrimeRevenue recently shared exclusively with Finance Magnates that as of June 30^th 2016 it reached $9.6 billion in transactions on its platform which was an all-time record, as explained by a company spokesperson.

“Adding someone with such an in-depth understanding of the industry, top-tier sales experience, and a well-established network is a huge boost for Fluent,” said Lamar Wilson, CEO of Fluent, commenting in a statement.

Mr. Lamar added: “It also doesn't hurt that he has intimate knowledge of the incumbent’s offerings and how our solution can deliver value using a new technological solution.”

Finance Magnates had recently covered about the Distributed Trade 2016 conference that Fluent co-hosted last month, as supply chain finance is one area where blockchain technology is being applied to disrupt areas of finance with new solutions and product innovations.